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Mon September 21 2020

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New JV targets Indian market

8 Sep 11 Mitsubishi Heavy Industries (MHI) and Suhail Bahwan Group (SBG) of Oman have set up a joint venture whose initial aims include developing business in transporation systems in the fast-growing Indian market.

The company, MHI Engineering & Industrial Projects India Private Limited (MEIP), was set this month. It will undertake business development, design, engineering, procurement, construction management, after-sale services and other roles for industrial and infrastructure projects handled by MHI's Machinery & Steel Infrastructure Systems division. It will start by developing business related to  chemical and environmental plants (and transportation systems. Future plans call for MEIP to expand its business coverage to include the Middle East and Africa.

The initial capital of MEIP is about US$20m (£12.5m), with heavy machinery manufacturer MHI holding 51% and SBG owning 49%. SBG encompasses more than 40 companies engaged in a businesses including engineering and construction and the operation and maintenance of desalination and power plants.

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